Protecting Senior Homeowners and Consumers
Throughout my career in public service, what has driven me every day has been my dedication to protecting and safeguarding the rights of Nevada families, children, and seniors. Growing up in a very close knit family, I was raised as much by grandparents as I was by my parents. Spending time with my grandparents I saw how often our elders are targeted by individuals and corporations who see their vulnerabilities and try to take advantage of them.
As Nevada Attorney General, I saw the devastating effects of predatory behavior by unchecked mortgage companies, big banks, payday lenders and credit card companies. Many elderly Nevadans in particular were lured into taking out subprime loans or agreeing to misleading reverse mortgages before the 2008 financial crisis. During my time as Attorney General, I combatted elder fraud and abuse by suing 26 big banks that were unfairly targeting Nevadans. I also sponsored a bill in the Nevada Legislature creating the Senior Protection Unit to provide the Attorney General’s office the necessary resources to investigate senior abuse, neglect, and financial exploitation.
In the past six years, Congress has enacted numerous rules to protect seniors across the country from exploitation and fraud. Congress passed the Dodd-Frank Wall Street Reform and Consumer Protection Act after the financial crisis to protect consumers in Nevada, and across our country. It also created the Consumer Financial Protection Bureau, which has played a crucial role in supporting the efforts of state attorneys general in the fight to bring justice to victims of predatory financial practices. The CFPB has resolved the cases of 14,600 Nevadans and returned $12 billion to 29 million consumers across the country who were taken advantage of by companies like Wells Fargo and Bank of America.